Mr. Weinstein, the specific type of labs that are going to be run through this environment is going to be left up to the instructors who need virtual lab access for their students, so it's probably going to be a mix of later Windows (e.g. 7 and/or 8, server 2008 and/or 2012) and a couple of different types of Linux (we use SUSE and Ubuntu frequently) depending on the specific classroom content.
eeg3, I'll try to answer your questions in order:
1) Yes. The goal of this environment is to provide the horsepower of the campus' computers to students who need to access them during hours when the campus isn't open or to distance learners.
2) Yes, the lab computers are all Dell desktops - I'm working from memory on the specific model number, but I think they're optiplex 790s.
3) See above, but I imagine most of the VMs will end up being Windows 7 machines.
4) From my (admittedly limited) understanding of the needs of the project and how we'll be using auto deploy, PXE booting is an integral part of the process, yes.
Thanks for your input! I hope these responses are helpful.